Big benefits with a high price: Review of the Business Platinum Card from American Express with 100K welcome bonus

Aug 27, 2021

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The Business Platinum Card® from American Express overview

The Business Platinum Card® from American Express is not only one of the most expensive business cards available, but also one of the most expensive rewards cards on the market, in general. Thankfully, a lengthy list of luxury travel and lifestyle perks can help you recoup that cost, but it still takes a bit of work to truly maximize your usage of this card.
Card rating*: ⭐⭐⭐⭐
* Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

With premium cards becoming the norm these days, many people are getting more comfortable with the idea of paying annual fees of over $400. The Business Platinum Card® from American Express stands out above even that, though, thanks to its $595 annual fee (see rates and fees). Despite that, I still jumped at the chance to apply for this card because of its lucrative welcome offer.

This card is currently offering an intro bonus of 100,000 Membership Rewards points after you spend $15,000 on eligible purchases in the first three months of account opening. That’s worth $2,000 according to TPG’s latest valuations.

Related: Is the Amex Business Platinum worth the annual fee?

Just be warned — between a high minimum spending requirement and several business-focused perks, this card certainly won’t be right for every small business, especially ones that don’t log major travel expenses or whose primary spending areas are more in line with the bonus categories offered by other business credit cards. So, let’s consider whether the Business Platinum card is a good fit for you.

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In This Post

Who is this card for?

The Amex Business Platinum is best suited for small-business owners who charge thousands of dollars in monthly business expenses to their cards, are frequent travelers and can take advantage of all the card’s premium benefits. For these types of cardholders, the benefits and earning rates can more than justify the card’s $595 annual fee (see rates and fees). And remember — qualifying for a business credit card may be easier than you think.

Related: 5 ways you might be eligible for a business credit card without realizing it

For many cardholders, the best perk is access to the issuer’s growing collection of Centurion Lounges. Centurion Lounges are some of the nicest airport lounges in the U.S. and cardholders of the American Express Centurion Card, The Platinum Card® from American Express and the Business Platinum Card get access for themselves and up to two guests, regardless of their airline or class of service.

Amex offers access to hundreds of locations, beyond its own Centurion Lounge network. Photo by Zach Honig.
The entrance to the Centurion Lounge in Miami. (Photo by Zach Honig/The Points Guy).

That being said, the lounges have tightened up access policies — so you won’t get access more than three hours before departure nor upon arrival without a connecting boarding pass. But the dining and drink options will still provide value if you live near or frequently travel to the airports that currently feature these lounges. Cardmembers also have access to Priority Pass and Delta Sky Clubs (on same-day Delta flights), along with Airspace and Escape lounges. Enrollment is required for select benefits.

Related: Guide to lounge access with the Amex Platinum and Business Platinum

There are several travel-related distinctions between the personal and business versions of this card that you should consider. Perhaps the most important of these distinctions is a 35% rebate available to Business Platinum members who book a business- or first-class ticket — or any class of flight with their selected qualifying airline — through Amex Travel using Membership Rewards points. Rebates are capped at 500,000 points per calendar year, which may be low for companies looking to offset more of their travel expenses.

Likewise, only personal Platinum members have access to up to $200 in annual Uber credits in the U.S., up to $100 in annual Saks Fifth Avenue statement credits (enrollment is required for select benefits) and 5x earning on flights booked directly with airlines (on up to $500,000 on these purchases per calendar year).

Related: The different flavors of American Express Platinum — which one is right for you?

(Photo by John Gribben for The Points Guy)

Welcome offer

Based on TPG’s valuations, Membership Rewards points are worth 2 cents apiece. So, if you can manage the hefty $15,000 spending requirement within the first three months to earn the card’s current 100,000-point offer, you’ll earn points worth about $2,000 toward travel. (We have also seen previous offers to this card may go even higher than 100,000, so keep your eyes open if you are considering applying!)

Your typical monthly expenses may help you determine which business card might be a better fit for you. If you have a smaller business but are still interested in opening the Business Platinum Card, you might want to consider prepaying as many expenses as you can afford during your first three months to help earn your welcome offer.

Benefits and perks

After you get over the potential initial shock of the $595 annual fee (see rates and fees), the Amex Business Platinum really shines through with its travel perks. When your travels don’t take you to an airport that offers a Centurion Lounge, you’ll have wider access to the American Express Global Lounge Collection. It includes more than 1,300 Priority Pass lounges worldwide, as well as Delta Sky Club lounges you can access when you’re doing same-day flying on that airline. You’ll also have access to Airspace lounges, Escape lounges, Plaza Premium lounges and American Express International Lounge locations.

While Centurion Lounges are generally well regarded for the improved experience they offer over the average Priority Pass lounge, there have been two long-standing complaints about the program: There aren’t enough lounges, and the existing ones often get crowded.

Amex is actively addressing both of these concerns and is set to open new Centurion Lounge locations through 2022, including its second-ever international location, at London Heathrow. The new lounge in Denver just opened this year, but we’re also seeing an expansion of the LaGuardia and Las Vegas Centurion lounges. In terms of the overcrowding issue, Amex has imposed limits so you can only access the lounges three hours before your flight and only on arrival if you have a connecting boarding pass.

The SkyTeam Lounge at YVR is an excellent Priority Pass lounge.
The SkyTeam Lounge in Vancouver is an excellent Priority Pass lounge. (Photo by Katie Genter/The Points Guy)

Any premium travel rewards card worth its fee also offers reimbursement for a Global Entry ($100) or TSA PreCheck ($85) application fee every four to five years. The Business Platinum Card is no exception, giving you a reimbursement for one or the other of these application fees once every four years for Global Entry and once every 4 1/2 years for TSA PreCheck.

Cardmembers also have access to up to $200 in statement credits each year for any U.S. Dell technology purchases. This credit works like the $100 Saks Fifth Avenue credit on the personal Platinum Card from American Express in that it’s split into two different statement credits. So, you’ll get a statement credit for up to $100 on U.S. Dell purchases between January and June and another credit for up to $100 on U.S. Dell purchases between July and December.

Related: The latest credit card benefit changes you need to know about

As for benefits that come in handy once you reach your destination, this card allows you to enroll in complimentary Gold status with Hilton Honors and Gold Elite status with Marriott Bonvoy, which provide better earnings and benefits during stays with these two brands. You can get elite-type perks at other hotels by booking stays through Amex’s Fine Hotels + Resorts program.

When you book a stay at a Fine Hotels + Resorts property through Amex Travel, benefits include noon check-in if available, 4 p.m. checkout, a room upgrade if available, daily breakfast for two and a unique amenity valued at $100 or more.

If you book a prepaid stay online, you’ll earn 5x and (sometimes) get elite benefits during your stay. Cardmembers also have access to The Hotel Collection, which offers an up-to-$100 on-site credit at select properties when you book a stay of two nights or longer through Amex Travel.

(Photo by Katie Genter/The Points Guy)
Hilton Gold status will unlock some benefits when you stay at Hilton properties, such as the DoubleTree Resort by Hilton in Penang, Malaysia. (Photo by Katie Genter/The Points Guy)

The Amex Business Platinum Card also features extended warranty protection that extends eligible U.S. manufacturer warranties of five years or less by an additional year. Additionally, purchases on your card are protected from accidental damage or theft for up to 90 days from the moment you purchase them.

Besides these benefits, there are also many other benefits, including the International Airline Program, Cruise Privileges Program and Upgrade with Points.

Related: 8 things to do when you get the Amex Business Platinum


Rewards on most spending with the Business Platinum Card are pretty average at 1 point per dollar spent, which amounts to a 2% return based on TPG’s valuations. However, for businesses with significant expenses, Amex adds a slight incentive to coax you to use its card: All purchases of $5,000 or more earn 1.5 points per dollar (a 3% return), up to 1 million extra points per year.

Everyday office spending is not the reason to get this card, though. You’ll earn 5x when you purchase airfare and prepaid hotel rooms with American Express Travel (including Amex Fine Hotels + Resorts). That’s the same 10% return as you’ll see on the personal Platinum Card, although with the personal Amex Platinum Card, you also get 5x on airfare booked directly with airlines (on up to $500,000 on these purchases per calendar year).

(Photo courtesy of Park Hyatt New York Sky Suite)
Earn 5 Membership Rewards points per dollar when you book a prepaid Fine Hotels + Resorts stay at a property such as the Park Hyatt New York. (Photo courtesy of Park Hyatt New York)

Simply put, the Business Platinum Card will not be the one you want to use for a majority of your purchases. This card excels when it comes to travel spending and perks, but don’t feel like you have to keep it at the front of your wallet just because you’re paying more for it.

Related: Everything you need to know about Amex Membership Rewards


You can redeem your points for merchant gift cards or to pay for charges on your bill. However, these options all significantly devalue your rewards to 1 cent per point or less and we strongly recommend against using your points this way.

The most worthwhile way to redeem points is to transfer them to one of Amex’s 19 airline and three hotel partners. Going this route may take a bit of sleuthing, but a little work can help increase the value of your points significantly above the TPG valuation. Whether you want to fly on Oneworld, Star Alliance or Sky Team airlines — or stay at Hilton or Marriott propertiesmany sweet spots can be unlocked with Amex Membership Rewards points.

(Photo by Katie Genter/The Points Guy)
Choice Hotels points can provide excellent value in Europe, Japan and even New York. (Photo by Katie Genter/The Points Guy)

Want the easiest redemption option that still offers decent value? If you redeem your points via American Express Travel Pay with Points, they’re worth about 1.54 cents per point toward first- and business-class flights on any airline, as well as economy-class flights on your selected airline because of the 35% Pay with Points rebate. That’s a higher return than you’ll earn booking travel on Amex with the personal Platinum Card (1 cent per point) and it’s about on par with what you’d get with the Chase Sapphire Reserve when using Chase Ultimate Rewards to book travel through the issuer’s portal (1.5 cents per point). But, note that the 35% rebate is capped at 500,000 points per calendar year.

You’ll also want to keep an eye out for transfer bonuses, which Amex runs with some regularity. In the past, we’ve seen a 40% bonus for transfers to British Airways Avios and a 30% bonus for transfers to Virgin Atlantic Flying Club, which can help you score cheap premium-cabin awards on Delta and ANA.

Related: Redeeming American Express Membership Rewards for maximum value

Is the Amex Business Platinum a good fit for your business?

The Amex Business Platinum Card offers one of the most valuable welcome bonuses on the market right now. As such, any business that can hit the $15,000 spending requirement should seriously consider this card. But if we dig a little deeper, we can see that only specific types of customers will really benefit in the long run.

Although qualifying for this card may be easier than you think, much about this card screams “established businesses.” For starters, a smaller and newer company might struggle to meet the $15,000 minimum spending requirement and the last thing you would ever want to do is jeopardize your company’s finances in the pursuit of travel rewards.

Add in the limited bonus categories (and the fact that one of the biggest bonus-earning options comes from making large purchases of $5,000 or more) and many small businesses out there will have trouble maximizing this card after year one.

If you feel that your business might be too small to get the full value out of the Business Platinum Card, you might want to consider other options. For instance, the American Express® Business Gold Card offers similar redemption options to the Business Platinum but at a lower annual fee of $295 (see rates and fees).

This card offers six bonus categories, one of which is airfare purchased directly from airlines. It allows you to earn 4 points per dollar on the two categories you spend the most on each month (on up to $150,000 in combined purchases for these two categories per calendar year, then 1x).

(Photo by Eric Helgas/The Points Guy)
The Business Gold Card offers solid earning and similar redemption options at a lower annual fee. (Photo by Eric Helgas/The Points Guy)

Alternatively, if you like the American Express Membership Rewards ecosystem and want to keep your cost as low as possible, take a look at The Blue Business® Plus Credit Card from American Express instead. This no-annual-fee credit card (see rates and fees) earns 2 Membership Rewards points per dollar (a 4% return) on your first $50,000 in purchases per calendar year (then 1x), with no bonus categories to worry about.

You’ll earn 2x whether you’re spending $1 or $1,000, whether you’re booking travel or buying furniture for your office. While you won’t find many perks on a no-annual-fee credit card, the simplicity it affords will give you more time to focus on growing your business.

Bottom line

The Amex Business Platinum Card is a niche card that’s perfect for the big-business traveler. While it might not be worth the money for business owners who don’t count airfare and hotel stays among their largest business expenses, its travel perks are difficult, if not impossible, to beat.

Here’s the official link to apply for The Business Platinum Card from American Express with a 100,000-point welcome bonus.

Additional reporting by Benji Stawski and Stella Shon.

For rates and fees of the Amex Business Platinum card, please click here.
For rates and fees of the Amex Business Gold, please click here.
For rates and fees of the Amex Platinum card, please click here.
For rates and fees of the Blue Business Plus card, click here.

Featured photo by Ryan Patterson/The Points Guy.

The Business Platinum Card® from American Express

Aside from the 100,000-point welcome bonus, Amex recently made huge improvements to the Business Platinum Card, including the fact that you will now earn 50% more points on purchases of $5,000 or more (up to a cap amount), earn 5x on flights and eligible hotels at and cardholders will receive an up to $200 annual airline fee credit each calendar year (enrollment required).

Apply Now
More Things to Know
  • Welcome Offer: Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card within the first 3 months of Card Membership.
  • Get 5X Membership Rewards® points on flights and prepaid hotels on
  • Get 50% more Membership Rewards® points. That's an extra half point per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
  • 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year when you book on
  • Breeze through security with CLEAR® where available and get up to $179 back per year on your membership when you use your Card.
  • Enroll to get up to $200 in statement credits annually by getting up to $100 semi-annually for U.S. purchases with Dell. Terms apply.
  • Pay Over Time Option: A flexible payment option to help manage cash flow on purchases of $100 or more.
  • Terms Apply.
  • See Rates & Fees
Regular APR
14.24% - 22.24% Variable
Annual Fee
Balance Transfer Fee
Recommended Credit
Good, Excellent
Terms and restrictions apply. See rates & fees.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.